NSECredit Rating23h ago · 24 Sept 2026, 08:05 pm
Credit Rating
Gravita India Limited · GRAVITA
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Gravita India Limited has informed the Exchange about Credit Rating assigned to its Material Subsidiary Rashtriya Metal Industries Limited by ICRA Limited.
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Governance Concern1/10
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Gravita India Limited has informed the Exchange about Credit Rating
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GRAVITA_24092026200349_CreditRatingFinal24092026.pdf
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GRAVITA INDIA LTD.
Corp. Office: Gravita Tower, A-27 B, Shanti Path,
Tilak Nagar, JAIPUR- 302004, Rajasthan (INDIA)
Phone: +91-141-4057700/800
Web: www.gravitaindia.com CIN: - L29308RJ1992PLC006870
24th September, 2026
GIL/2026-27/91
The BSE Limited The Listing Department
Phiroze Jeejeebhoy Towers The National Stock Exchange of India Ltd.
Dalal Street Exchange Plaza, C-1, Block G,
Mumbai- 400 001 Bandra- Kurla Complex
Fax No.: 022- 22721919 Bandra(east), Mumbai- 400 051
Scrip Code- 533282 Fax No.: 022-2659 8120
Company Code- GRAVITA
Sub: Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements),
Regulations, 2015
Dear Sir/Madam,
Pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015, we wish to inform you that ICRA Limited, the credit rating agency, has
assigned credit rating to the Rashtriya Metal Industries Limited, a Material Subsidiary of the Company as
detailed below:
Name of Credit Instrument Type Amount Rating Action
Company Rating (Rs. Cr.)
Agency
Long-term – Fund-based – Working 352.00 [ICRA]AA(Stable); Assigned
Capital Limits
Rashtriya Long-term – Fund-based – Unallocated 98.00 [ICRA]AA(Stable); Assigned
Metal ICRA Limits
Industries Limited Short-term – Non-fund based - Others 108.00 [ICRA]A1+; Assigned
Limited Short-term – Non-fund based – 42.00 [ICRA]A1+; Assigned
Unallocated limits
Short-term – Interchangeable limits – Non- (352.00) [ICRA]A1+; Assigned
Fund based
We are enclosing herewith copy of rating letter dated 24.09.2026 as received from ICRA Limited.
This is for your information and record.
Yours Faithfully
For Gravita India Limited
Nitin Gupta
(Company Secretary)
FCS: 9984
Encl.: As above
Regd. Office :
‘SAURABH’, C hittora Road, Diggi-Malpura Road
Tehsil: Phagi, JAIPUR- 303 904, Raj. (INDIA)
Phone: +91-9928070682
Email: companysecretary@gravitaindia.com
ICRA Limited
ICRA/Rashtriya Metal Industries Limited/24092026/1
Date: September 24, 2026
Ms. Karvi Agrawal
Managing Director
Rashtriya Metal Industries Limited
308–312, Meadows, Sir M.V. Rd,
Sahar Plaza Complex, J.B.Nagar, Andheri (E),
Mumbai, Maharashtra, India - 400059.
Dear Ma’am,
Re: ICRA's Credit Rating for below mentioned Instruments of Rashtriya Metal Industries Limited
As per the Rating Agreement/Statement of Work executed with ICRA Limited, ICRA’s Rating Committee has taken the
following rating actions for the mentioned instruments of your company.
Instrument Rated Amount (Rs. Rating Action[1] Financial Sector
Crore) Regulator#
Long-term - Fund-based - Working Capital Limits 352.00 [ICRA]AA(Stable); Assigned RBI
Long-term - Fund-based - Unallocated limits 98.00 [ICRA]AA(Stable); Assigned RBI
Short-term - Non-fund based - Others 108.00 [ICRA]A1+; Assigned RBI
Short-term - Non-fund based - Unallocated limits 42.00 [ICRA]A1+; Assigned RBI
Short-term - Interchangeable limits - Non-Fund (352.00) [ICRA]A1+; Assigned RBI
based
Total 600.00
#SEBI’s grievance redressal/dispute resolution and SEBI investor protection mechanisms such as SCORES and ODR shall not be available for activities and
instruments which fall under the regulatory purview of Financial Sector Regulators other than SEBI.
The aforesaid rating(s) will become due for surveillance within one year from the date of rating communication letter.
However, ICRA reserves the right to review and/or, revise the above rating(s) at any time based on new information
becoming available, or the required information not being available, or other circumstances that ICRA believes could have
an impact on the rating(s). Therefore, request the lenders and investors to visit ICRA website at www.icra.in for latest
rating(s) of the company.
The rating(s) are specific to the terms and conditions of the instruments as indicated to us by you, and any change in the
terms or size of the same would require a review of the rating(s) by us. In case there is any change in the terms and
conditions or the size of the rated instrument, the same must be brought to our notice before the instrument is used by
you. In the event such changes occur after the rating(s) have been assigned by us and their use has been confirmed by you,
the rating(s) would be subject to our review, following which there could be a change in the rating(s) previously assigned.
Notwithstanding the foregoing, any change in the over-all limit of the instrument from that specified in this letter, would
constitute an enhancement that would not be covered by or under the said Rating Agreement.
The rating(s) assigned must be understood solely as an opinion and should not be treated, or cause to be treated, as
recommendation to buy, sell, or hold the rated instrument availed/issued by your company.
[1]Complete definitions of the ratings assigned are available at www.icra.in.
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You are also requested to forthwith inform us about any default or delay in repayment of interest or principal amount of the
instrument rated, as above, or any other debt instruments/ borrowing and keep us informed of any other developments
which may have a direct or indirect impact on the debt servicing capability of the company including any proposal for re-
schedulement or postponement of the repayment programmes of the dues/ debts of the company with any lender(s) /
investor(s), or occurrence of any significant development that could impact the ability of the company to raise funds such as
restriction imposed by any authority from raising funds through issuance of debt securities through electronic bidding
system. Further, you are requested to inform us immediately as and when the borrowing limit for the instrument rated, as
above, or as prescribed by the regulatory authority(ies) is exceeded.
We look forward to your communication and assure you of our best services.
With kind regards
Yours sincerely
For ICRA Limited
Mr. Ankit Jain
Vice President and Co-Group Head
ankit.jain@icraindia.com
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Annexure
Details of Bank Limits Rated by ICRA Instrument Name Amount (Rs. Crore) Rating Rating Assigned On
Axis Bank Limited Working Capital Facilities 82.00 [ICRA]AA(Stable) September 21, 2026
HDFC Bank Limited Working Capital Facilities 85.00 [ICRA]AA(Stable) September 21, 2026
Kotak Mahindra Bank Limited Working Capital Facilities 40.00 [ICRA]AA(Stable) September 21, 2026
RBL Bank Limited Working Capital Facilities 75.00 [ICRA]AA(Stable) September 21, 2026
Federal Bank Limited Working Capital Facilities 70.00 [ICRA]AA(Stable) September 21, 2026
Not Applicable Unallocated Limits 98.00 [ICRA]AA(Stable) September 21, 2026
Axis Bank Limited Non Fund-Based Facilities 58.00 [ICRA]A1+ September 21, 2026
Kotak Mahindra Bank Limited Non Fund-Based Facilities 20.00 [ICRA]A1+ September 21, 2026
Federal Bank Limited Non Fund-Based Facilities 30.00 [ICRA]A1+ September 21, 2026
Not Applicable Unallocated Limits 42.00 [ICRA]A1+ September 21, 2026
Axis Bank Limited Interchangeable Limits (82.00) [ICRA]A1+ September 21, 2026
HDFC Bank Limited Interchangeable Limits (85.00) [ICRA]A1+ September 21, 2026
Kotak Mahindra Bank Limited Interchangeable Limits (40.00) [ICRA]A1+ September 21, 2026
RBL Bank Limited Interchangeable Limits (75.00) [ICRA]A1+ September 21, 2026
Federal Bank Limited Interchangeable Limits (70.00) [ICRA]A1+ September 21, 2026
Total 600.00
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